This was the rate at which periscopes fitted with mirrors in wooden boxes could be rented when the Big Three would be playing at the Maidan in the past. A file photo of people queuing up for periscopes during a Mohun Bagan match in the sixties
Exit clause seems ok. Board composition is worrisome vis-a-vis MB legacy. As Tutu & Co don't have the money power, this looks like a sellout. they compromised with the logo. And news are surfacing that they will keep the ATK colours along with green & maroon. So a dilution there again.
I don't read much on the 'international level academy' as all ISL clubs have similar academies So nothing new there.
4) Exit Clause: As of now the merger between Mohun
Bagan and ATK is a long term arrangement. However, the most significant
thing is the exit clause. What happens if one decides to terminate the
contract? If anyone wishes to exit from the contract then he can do so
by paying the share value agreed upon. For instance if Mohun Bagan wants
to withdraw from the deal in the future, they will have to pay 125%.
because they have only 20% stake. On the other hand, if ATK wish to
withdraw from the agreement, they will have to pay only 75% of the price
because they have 70% shares. If any party violates the agreement then
the contract will automatically stands void. The time frame discussed by
both parties to start working as a separate entity if they wish to come
out is two months.
ATK combining with MB and the new entity renamed as ATK MB is no extra-ordinary deal. It is done the way these were being done. We didn't have Problems with McDowell Mohun Bagan and Quess East Bengal. So it's perfectly in order.
It's just that the partner MB chose are a football club also. So they would also try to uphold their jersey and their logo, particularly when they are the majority stake holder. But good sense prevailed and the MB colours and logo are retained. To me it is similar to Vijay Malya having majority stake in the club, nothing different.
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This was the rate at which periscopes fitted with mirrors in wooden boxes could be rented when the Big Three would be playing at the Maidan in the past. A file photo of people queuing up for periscopes during a Mohun Bagan match in the sixties
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A peek at ATK-Mohun Bagan contract: What’s in the exit clause? Find more
4) Exit Clause: As of now the merger between Mohun Bagan and ATK is a long term arrangement. However, the most significant thing is the exit clause. What happens if one decides to terminate the contract? If anyone wishes to exit from the contract then he can do so by paying the share value agreed upon. For instance if Mohun Bagan wants to withdraw from the deal in the future, they will have to pay 125%. because they have only 20% stake. On the other hand, if ATK wish to withdraw from the agreement, they will have to pay only 75% of the price because they have 70% shares. If any party violates the agreement then the contract will automatically stands void. The time frame discussed by both parties to start working as a separate entity if they wish to come out is two months.
Let's rename this thread to ATK Mohun Bagan News and discuss here..
It's just that the partner MB chose are a football club also. So they would also try to uphold their jersey and their logo, particularly when they are the majority stake holder. But good sense prevailed and the MB colours and logo are retained. To me it is similar to Vijay Malya having majority stake in the club, nothing different.